Bittensor treasury firm TAO Synergies secures $11 million in private financing
Quick Take TAO Synergies entered a share purchase agreement with existing investors and a new investor, DCG. The company’s shares rose 38.5% on Monday, while the announcement was made after the markets closed.
Bittensor-focused crypto treasury firm TAO Synergies announced Monday that it entered into a securities purchase agreement to raise $11 million.
The agreement involves the sale of 11,000 shares of the company's newly issued Series E convertible preferred stock, according to the release . Each share has a stated value of $1,000, and is convertible into shares of TAO Synergies' common stock, at a conversion price of $8.
The participants of this purchase agreement include the company's existing investors, its own digital asset strategy advisor James Altucher and a new investor, DCG. The deal is expected to close on or around Oct. 15, 2025, given that the standard closing requirements are met.
"TAO Synergies' latest financing further supports its continuing strategic investments not only in TAO tokens, but also in potential opportunities to earn revenue and accrue additional TAO within the Bittensor ecosystem," said Altucher.
TAO Synergies, formerly biotech firm Synaptogenix, rebranded and changed its ticker to TAOX in June as part of its pivot toward a Bittensor-focused strategy. The firm previously said that it stakes all acquired tokens to earn network rewards on Bittensor.
Bittensor operates at the intersection of AI and cryptocurrency, functioning as a platform designed around incentive mechanisms. Users contribute intelligence to improve AI systems, receiving TAO tokens based on the utility of their input. The platform is open-access, facilitating permissionless coordination of AI development.
According to TAO Treasuries data , TAO Synergies is the largest publicly traded holder of Bittensor, holding 42,111 TAO worth over $18.2 million. There are two other Bittensor treasury companies, xTAO Inc. and Oblong.
While the announcement came after markets closed on Monday, TAO Synergies surged 38.46% on the day to $9.54. The company has a market capitalization of $33.27 million, and its stock has climbed 60% over the past month, according to Google Finance data .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SEC Faces Deadline for Grayscale XRP ETF Decision
Ethereum Bulls Remain Unfazed: Analyzing Market Confidence After $232 Million Liquidation
Ethereum’s price is fluctuating around $3,700, influenced by US credit and labor data, with traders cautiously avoiding high leverage. Whale activity indicates limited bearish sentiment, but there is insufficient confidence in a rapid rebound. No warning signals have been observed in the derivatives market, and a recovery will require clearer macroeconomic signals. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
BNY Mellon Empowers Crypto Ecosystem with Robust Infrastructure
In Brief BNY Mellon enhances its crypto ecosystem role through infrastructure services, not its own coin. The bank supports stablecoin projects instead of launching an altcoin amid positive market conditions. BNY Mellon prioritizes infrastructure over token issuance, promoting collaboration and ecosystem strength.
Crypto Surge Revives Investor Optimism
In Brief The crypto market exhibits signs of recovery post-major liquidations. Ethereum, Dogecoin, Cardano, and XRP have shown significant gains. Technological innovations and ETF expectations contribute to market optimism.
Trending news
MoreCrypto prices
More
